HERNDON, Va. (AP) — HERNDON, Va. (AP) — Beacon Roofing Supply Inc. (BECN) on Thursday reported fourth-quarter profit of $83.6 million.
On a per-share basis, the Herndon, Virginia-based company said it had profit of $1.32. Earnings, adjusted for one-time gains and costs, came to $1.65 per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.67 per share.
The roofing materials distributor posted revenue of $2.4 billion in the period, which also did not meet Street forecasts. Six analysts surveyed by Zacks expected $2.42 billion.
For the year, the company reported net income of $361.7 million, or $5.68 per share, swinging to a profit in the period. Revenue was reported as $9.76 billion.
Beacon Roofing shares have climbed 14% since the beginning of the year. The stock has increased 31% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BECN at https://www.zacks.com/ap/BECN
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